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Greencoat adds assets to first solar vehicle

Greencoat Capital’s first solar vehicle has acquired an additional 15MW portfolio of solar PV over the last two months, it has emerged.

Greencoat Solar I last week completed the acquisition of the 10.8MW Wrangle Solar Farm in Lincolnshire from Gresham House-owned Hazel Capital, it is understood.

Wrangle Solar was connected to the grid in March 2014 and receives 1.6ROCs/MW. Hazel financed construction of the project with GBP 6.3m in debt provided by NIBC.

The deal follows Greencoat’s acquisition of the 4.8MW Common Farm Solar Farm from Ethical Power in October 2017.

Common Farm – which was commissioned in March – was acquired from Ethical Power, which itself acquired the facility from Swindon Borough Council in February.

The GBP 295m Greencoat Solar I fund was launched in September 2016 with backing from the BBC Pension Fund.

Greencoat reached a first close on the Greencoat Solar II fund in September 2017, with GBP 260m in commitments raised.

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